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Questioning the zig-zag theory

Investors have been told for years that they should put a portion of their money into foreign stocks as a way of balancing the U.S. market. The theory behind that advice was: When U.S. stocks zig, those foreign stocks zag.

HSBC to start retail banking operations in Japan

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HSBC said on Thursday it plans to start retail banking operations in Japan from January 2008, making Europe's largest bank the latest foreign player to target Japan's legion of wealthy individuals.

Malaysia's Proton pins hopes on new model

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Malaysian loss-making car-maker Proton Holdings expects to reverse a long and painful slide in its domestic market share with the launch of a new model from January.
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OPEC president says no shortage of oil

The oil market is well balanced and there is no shortage of crude, OPEC's president said on Thursday, ahead of a meeting of the producer group next week that is expected to maintain supply curbs.
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Blackstone to buy stake in China's BlueStar: source

Blackstone Group plans to buy a 20 to 40 percent stake in chemicals company China National BlueStar (Group) Corp for up to $500 million, marking its first major investment in the world's fastest-growing major economy.
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Campbell profit below estimates

Campbell Soup Co on Thursday posted quarterly profit below analysts' estimates despite strong sales of its V8 vegetable juice, as the company overhauled its supply chain in Australia and Indonesia.
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Media stocks under pressure

Shares in some of the biggest U.S. entertainment and media companies fell on Wednesday after Goldman Sachs downgraded its view on the sector to cautious from neutral due to concerns about the U.S. economic slowdown.
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New iPods to help Apple counter rivals

Apple Inc is expected to unveil new iPods this week, injecting fresh excitement into the product line at a time when defections by partners have shown cracks in its digital music dominance.
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Wall St. drops on job, housing market stress

Stocks fell on Wednesday after data showed deterioration in the employment and housing markets, underscoring concern that problems of the subprime mortgage market were spreading to the wider economy.
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LG cuts price of dual HD DVD player

South Korea's LG Electronics Inc introduced on Wednesday an updated version of its high-definition DVD player that supports both Blu-ray and HD DVD, offering a possible solution to the format war.
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Yahoo buys behavioral ad firm for $300 million

Yahoo Inc has struck a deal to buy BlueLithium, the fifth-largest U.S. online ad network, for $300 million in cash, in the latest move to consolidate the fast-growing behavioral ad targeting market.
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HTC to launch new PDAs with Qualcomm chips

Taiwan smartphone maker High Tech Computer (HTC) said on Wednesday it will launch 10 new PDAs and smartphones using chips from U.S.-based Qualcomm Inc by the end of the year.
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Pending home sales fell 12.2 percent in July

Pending sales of previously owned U.S. homes fell by a surprising 12.2 percent in July as credit tightened up amid troubles in the housing and subprime mortgage sectors, a real estate trade group said on Wednesday.
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Gold rally stalls on profit-taking

Gold declined on Wednesday as investors took profits from a six-week high, but the metal remained supported by good physical buying and firm oil prices.
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European shares fall ahead of data, banks down

European shares fell on Wednesday with financial stocks lower on renewed concern about the extent of the credit crisis. This offset gains in oil stocks while investors turned cautious ahead of U.S. economic data.
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Global stocks hit by credit concerns

World stocks slipped and Wall Street looked set for a poor start on Wednesday as investors cut back on risky assets and sought safety to assess how recent market turmoil has affected the real economy.
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Jail threat hangs over S.Korea auto patriarch

The head of South Korea's Hyundai Motor Group, the world's sixth-largest auto maker, should hear on Thursday the result of his appeal against a 3-year jail sentence for fraud and embezzlement.
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Bush, Howard back nuke power ahead APEC summit

U.S. President George W. Bush says nuclear power is a key to tackling climate change, along with new energy technologies, but green groups want Asia-Pacific leaders meeting in Sydney to commit to greenhouse gas reduction targets.
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Bush says floating yuan would help balance trade

U.S. President George W. Bush said on Wednesday China could help reduce trade imbalances by floating its currency, and a White House aide said Bush may discuss the thorny issue in a meeting with Chinese President Hu Jintao.
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Mattel announces third Chinese toy recall

The world's leading toymaker, Mattel Inc, on Tuesday announced a third recall of Chinese-made toys, saying it would take back more than 800,000 units globally that contain impermissible levels of lead. In total, 522,000 U.S. toys and 322,000 outside the United States are being recalled.
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CP Rail to buy DM&E for at least $1.48 billion

Canadian Pacific Railway Ltd said it planned to buy the Dakota, Minnesota & Eastern Railroad Corp for at least $1.48 billion to expand its network and increase its access to U.S. Midwest markets.
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U.S. auto sales mixed in August

Major automakers posted mixed U.S. sales for August on Tuesday, as executives cautioned the embattled industry was facing reverberations from a weaker housing market and the shakeout in subprime lending. Industrywide sales for August were tracking at 16.1 million vehicles on an annualized rate, down from 16.2 million a year earlier.
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SEC wants Germany's help in Siemens case: report

The U.S. Securities and Exchange Commission has made an official request for help to Germany's Justice Ministry in its investigation into suspected bribery and corruption at Siemens, a newspaper said.

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